Working Papers

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2007_0714: Testing Uncovered Interest Parity: A Continuous-Time Approach

Antonio Diez de los Rios and Enrique Sentana

2007_0713: On the Efficiency and Consistency of Likelihood Estimation in Multivariate Conditionally Heteroskedastic Dynamic Regression Models

Gabriele Fiorentini and Enrique Sentana

2007_0712: The Evolution of Bidding Behavior in Private-Values Auctions and Double Auctions

Rene Saran and Roberto Serrano

2007_0711: Dynamic Discrete Choice Structural Models: A Survey

Victor Aguirregabiria and Pedro Mira

2007_0710: Arrow’s Impossibility Theorem: Preference Diversity in a Single-Profile World

Allan M. Feldman and Roberto Serrano

2007_0709: Cooperative Games: Core and Shapley Value

Roberto Serrano

2007_0708: Implemetation in Adaptive Better-Response Dynamics

Antonio Cabrales and Roberto Serrano

2007_0707: El uso de sistemas dinámicos estocásticos en la teoría de juegos y la economía

Roberto Serrano

2007_0706: An Economic Index of Riskiness

Robert Aumann and Roberto Serrano

2007_0705: The Effects of Labor Market Conditions on Working Time: The US-EU Experience

Claudio Michelacci and Josep Pijoan-Mas

2007_0704: From Basel I to Basel II: An Analysis of the Three Pillars

Abel Elizalde

2007_0703: The Ex Ante Auction Model for the Control of Market Power in Standard Setting Organizations

Damien Geradin, Anne Layne-Farrar and A. Jorge Padilla

2007_0702: Pricing Patents for Licensing in Standard Setting Organizations: Making Sense of FRAND Commitments

Anne Layne-Farrar, A. Jorge Padilla and Richard Schmalensee

2007_0701: Royalty Stacking in High Tech Industries: Separating Myth from Reality

Damien Geradin, Anne Layne-Farrar and A. Jorge Padilla

2006_0615: Caring for Parents and Employment Status of European Mid-Life Women

Laura Crespo

2006_0614: Robust Priors in Nonlinear Panel Data Models

Manuel Arellano and Stéphane Bonhomme

2006_0613: A Likelihood-Based Approximate Solution to the Incidental Parameter Problem in Dynamic Nonlinear Models with Multiple Effects

Manuel Arellano and Jinyong Hahn

2006_0612: Recovery Rates, Default Probabilities and the Credit Cycle

Max Bruche and Carlos González-Aguado

2006_0611: Flat Tax Reforms in the U.S.: A Boon for the Income Poor

Javier Díaz-Giménez and Josep Pijoan-Mas

2006_0610: Estimating Structural Models of Corporate Bond Prices

Max Bruche

2006_0609: Accounting for Heterogeneous Returns in Sequential Schooling Decisions

Gema Zamarro

2006_0608: Credit Risk Models IV: Understanding and Pricing CDOs

Abel Elizalde

2006_0607: Credit Risk Models III: Reconciliation Reduced – Structural Models

Abel Elizalde

2006_0606: Credit Risk Models II: Structural Models

Abel Elizalde

2006_0605: Credit Risk Models I: Default Correlation in Intensity Models

Abel Elizalde

2006_0604: Network Size and Network Capture

Gerard Llobet and Michael Manove

2006_0603: Hot and Cold Housing Markets: International Evidence

José Cerón and Javier Suarez

2006_0602: Production Targets

Guillermo Caruana and Liran Einav

2006_0601: R&D in the Pharmaceutical Industry: A World of Small Innovations

Beatriz Domínguez, Juan-José Ganuza and Gerard Llobet

2005_0509: Parametric Properties of Semi-Nonparametric Distributions, with Applications to Option Valuation

Ángel León, Javier Mencia and Enrique Sentana

2005_0508: Regulation and Opportunism: How Much Activism Do We Need?

Aleix Calveras, Juan-José Ganuza and Gerard Llobet

2005_0507: Understanding Bias in Nonlinear Panel Models: Some Recent Developments

Manuel Arellano and Jinyong Hahn

2005_0506: Why So Many Local Entrepreneurs?

Claudio Michelacci and Olmo Silva

2005_0505: The Flat Tax Reform: A General Equilibrium Evaluation for Spain

Marta González and Josep Pijoan-Mas

2005_0504: Liquidity, Risk-Taking, and the Lender of Last Resort

Rafael Repullo

2005_0503: On Information and Competition in Private Value Auctions

Juan-José Ganuza and José S. Penalva Zuasti

2005_0502: Financing and the Protection of Innovators

Gerard Llobet and Javier Suarez

2005_0501: Borrowing from Employees: Wage Dynamics with Financial Constraints

Claudio Michelacci and Vincenzo Quadrini

2004_0422: Economic and Regulatory Capital. What Is the Difference?

Abel Elizalde and Rafael Repullo

2004_0421: Robust Likelihood Estimation of Dynamic Panel Data Models

Javier Álvarez and Manuel Arellano

2004_0420: Valuation of a Biotech Company: A Real Options Approach

Ángel León and Diego Piñeiro

2004_0419: Are Vector Autoregressions an Accurate Model for Dynamic Asset Allocation?

Francisco Peñaranda

2004_0418: Policies for Banking Crises: A Theoretical Framework

Rafael Repullo

2004_0417: Designing Antitrust Rules for Assessing Unilateral Practices: A Neo-Chicago Approach

David Evans and A. Jorge Padilla

2004_0416: Excessive Prices: Using Economics to Define Administrable Legal Rules

David Evans and A. Jorge Padilla

2004_0415: Multilateral Bargaining with Concession Costs

Guillermo Caruana, Liran Einav and Daniel Quint

2004_0414: Bilateral Market Power and Vertical Integration in the Spanish Electricity Spot Market

Kai-Uwe Kühn and Matilde Machado

2004_0413: Sequential Estimation of Dynamic Discrete Games

Victor Aguirregabiria and Pedro Mira

2004_0412: Auditing and Bank Capital Regulation

Edward Simpson Prescott

2004_0411: Estimation and Testing of Dynamic Models with Generalised Hyperbolic Innovations

Javier Mencia and Enrique Sentana